TAGS: Waterborne Adhesives UV/EB Cure Adhesives
Research and Markets (RM) anticipates that the global market for waterborne UV curable resins which was estimated at USD 197.1 million in the year 2020, is projected to reach a revised size of USD 444.1 million by 2027, growing at a CAGR of 12.3% over the analysis period 2020-2027.
Wood, one of the segments analyzed in the report, is projected to record a 14.8% CAGR and reach USD 167 million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the graphics segment is readjusted to a revised 12.9% CAGR for the next 7-year period.
Opto & Electronics Segment to Record 9.7% CAGR
The waterborne UV curable resins market in the U.S. is estimated at USD 53.1 million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of USD 100.3 million by the year 2027 trailing a CAGR of 16.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 10.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.7% CAGR.
In the global opto & electronics segment, USA, Canada, Japan, China and Europe will drive the 9% CAGR estimated for this segment. These regional markets accounting for a combined market size of USD 27.5 Million in the year 2020 will reach a projected size of USD 50.3 million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach USD 65.4 million by the year 2027, while Latin America will expand at an 11.1% CAGR through the analysis period.
Source: Research and Markets